Not too long ago, it seemed as though anyone who could fill out an application, sign their name and lick a stamp could obtain credit. In fact, there was even a somewhat disparaging acronym associated with certain types of loans, which were reserved for borrowers who perhaps were not fully qualified to receive credit. These NINJA loans or No Income No Job No Assets loans helped create a large part of the housing strife the US is experiencing today.

As a result of these somewhat lax guidelines along with a generally difficult economic environment, many Americans have found themselves leveraged to the hilt with credit card debt and unable to make even the minimum payments on their credit...

The reason for that is quite straightforward. Credit cards make it incredibly easy to get into debt trouble. When you use a credit card, you’re not directly spending your own money, and that abstraction is often enough to convince people to spend without thinking. After all, you don’t have to have the money in your checking account to cover it right now, do you?

I’m speaking from experience here. At one point in 2005, I had credit card debt that went well into the five figures while barely having enough to cover the bills in my checking account. One of the biggest reasons for this was the ease of using the credit card whenever I wanted something.

Advocate: Many who qualify fail to take canceled debt tax exemptionYou can amend your tax forms to lower your taxes, but its not easyBy ConniePrater

If you had forgiven credit card debt during the past three years and paid taxes on that additional income, you might be eligible for a tax refund — and not even know it.

How? A national taxpayer advocacy agency says many people who qualify for an exemption to avoid paying taxes on forgiven credit card debt dont take advantage of it. The IRS tax forms and publications are so confusing that many people — whose lives may be in financial upheaval because of debt — just give up and pay the taxes.

Unfortunately,...

We look at the best credit cards for balance transfers in the short, medium and long-term.

If youve built up some debt on your credit card, balance transfer cards are one of your best debt-fighting weapons.

These credit cards can massively reduce – or even abolish – your interest bill.

But to get the maximum benefit you need to pick the right card for your situation. In this article, were going to highlight some of the best balance transfer cards on the market.

But before we come to that, you need to figure out how quickly you can clear your credit card debt. If you reckon you can pay off your debt in six months, you should probably go for a different...